A Case Study on the Utilization of Umbrella Clauses in Investor-State Contract Disputes - Focusing on the Cases of SGS v. Pakistan and SGS v. Philippines -

투자자와 투자유치국간의 계약 분쟁에 있어서 포괄적보호조항의 활용에 관한 사례연구 - the Case of SGS v. Pakistan and SGS v. Philippines 사건을 중심으로

The purpose of this article is to examine the Utilization of Umbrella Clauses in Investor-State Contract Disputes. To accomplish the purpose, this article analyzes the ICSID case of SGS v. Pakistan and SGS v. Philippines. Umbrella clauses have become a regular feature of international investment agreements and have been included to provide additional protection to investors by covering the contractual obligations in investment agreements between host countries and foreign investors. In particular, two recent ICSID decisions, SGS v. Pakistan and SGS v. Philippines, have brought to the forefront the question of whether the umbrella clause applies to obligations arising under otherwise independent investment contracts between the investor and the host State. In focusing on the SGS decisions, this article will give some useful guidelines to Government and Academia under currently prevailing environment of the Free Trade Agreement("FTA") in Korea.